NZ Invstmt Holdings cleared to acquire RX Plastics

Media Release

Issued 03 April 2008/no 128

New Zealand Investment Holdings Ltd cleared to acquire RX Plastics Ltd

The Commerce Commission has cleared New Zealand Investment Holdings Limited (NZIH) or any of its interconnected bodies corporate to acquire 100% of the shares, or assets and business, of RX Plastics Limited.

NZIH is the New Zealand holding company for the Aliaxis Group. The Aliaxis Group manufactures plastic plumbing products for construction, industrial and public utilities applications throughout the world. In New Zealand, NZIH is most widely known through its subsidiary, Marley New Zealand Limited (Marley). Marley manufactures and distributes various plastic products, such as plastic pipes and plastic fittings, from its plants in Auckland and Christchurch.

RX Plastics Limited manufactures various irrigation products, water storage tanks and effluent disposal systems, including plastic pipes. It manufactures and distributes these products from its plants in Ashburton and Hamilton.

Commerce Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

Public versions of the written reasons for the decision will be available as soon as practicable on the Commission’s website, www.comcom.govt.nz under Public Registers.

ENDS

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